Part of the largest generation of consumers,
hispennials are defined as millennials (ages 18-35)
who are Hispanic. They represent 21 percent of the
millennial generation and are actively engaged in
the digital world, spending a great deal of time on
their phones and social media.
Source: mediapost.com and the Mars Agency
Connecting with them begins with educational marketing. You need to know how they conduct business
if you want to meet their needs.
Hispanics tend to have nontraditional credit profiles, and more than 70 percent of them speak Spanish.
Thus, originators have to develop workshops geared
information. Millennials are true digital natives who
have grown up in a digital world. They’ve become
the most mobile generation, yet. Hence, originators
must reach this buyer online and provide on-demand
Not being available on mobile platforms can really
hurt your bottom line. Eight out of 10 millennials turn
to this technology during the homebuying process, so
it’s vital to have a mobile-friendly website along with
Millennials also are heavy social media users, with
about 90 percent of them being active on social media.
In order to attract them via social channels, you have to
create information-rich content that adds value. This is
a well-informed generation, and they tend to do a lot
of research, so providing quality content that answers
relevant questions is on target with what they want.
For millennials, it’s more about helpful guidance
and educational posts, not necessarily impersonal
ads that lack real substance. Blogs, how-to videos and
informative tips all resonate with this generation and
will help you build a solid online brand that resonates
Create bilingual content
The Urban Institute projects that more than half of all
new homeowners from 2010 to 2030 will be Hispanic
households. Consequently, it is vital that originators have a plan to reach this key homebuyer group.
toward building credit, produce bilingual educational
materials and have Spanish-speaking mortgage professionals available, or it will be difficult to reach this
group of borrowers. Keep in mind, however, when
you’re marketing loans to people who speak a foreign
language, it’s important to consider your state laws or
seek the advice of an attorney to ensure compliance.
Hispennials, in particular, rely heavily on digital media,
including social media. Facebook is the second-most common way for hispennials to get their news.
Hence, social media has the potential to be a powerful marketing method if you have the right content.
Hispennials stream more than 6 hours of online video
content per month — 60 percent more than other
demographics — so creating video content specifically designed for a Hispanic audience will help you
stay relevant with this important demographic group.
As the market continues progressing, will you be
ready? Keeping your business fluid during transitional
times is as much about being proactive in terms of
market cycles as it is about anticipating borrower
needs. Staying knowledgeable and ahead of the curve
is the best way originators can remain relevant with
the evolving demands in the mortgage industry. ■
<< Transition continued from Page 120 “Hispennials, in particular, rely heavily on
digital media, including social media.”